Servo Drives and Motors Market - Drives, Growth, Demand and Key Players to 2020
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Increasing demand for control systems, such as robots or computers, and for information technologies to manage different processes and machineries in an automation industry, are among the major factors driving the growth of the servo drives and motors market globally. Servo drives and motors are used in the automation industry where the motor operates at varied speed ranges without getting overheated. Servo drive and motors use error-sensing feedback to rectify the performance of a mechanism and accordingly adjust the position, speed, and torque. These factors increase the quality and flexibility in an automation manufacturing process.
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The global servo drives and motors market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Asia-Pacific led the global servo drives and motors market in 2014 as well as the fastest growing regional market. The region is also expected to maintain its dominance in throughout the forecast period from 2014 to 2020. Asia-Pacific has seen significant growth in servo drives and motors market significant growth in GDP of countries such as India, South Korea, China, Singapore, Taiwan and several others. and rising industrialization in developed countries like Japan and in developing countries like China and India. These are the prime factors that are driving the growth of servo drives and motors market in Asia Pacific region. In addition, stringent electricity consumption policy and government programs for the replacement of out-dated electric motors with energy efficient electric motors are expected to drive the growth for servo drives and motors market in Europe and North America in coming few years.
The servo drives and motors market is segmented on the basis of types into servo drives and servo motors. The market has been further segmented based on different types of servo drives such as AC servo drives, DC servo drives and adjustable speed. Servo motors are further segmented into AC servo motors, DC brushless, brushed DC and linear servo motors. Servo motors are holding the maximum market revenue share in 2014 and are expected to remain so during the forecast period from 2014 to 2020. Servo motors are used in various automation fields where the motor functions at a range of speeds without overheating. In addition, serve motors also functions at zero speed and low speed while being able to retain its load in a set position. These factors are driving the demand of servo motors in servo drives and motors market globally.
Servo drives and motors market is further segmented by application into automotive, semiconductor and electronics, material handling, food processing, healthcare and others. The global servo drives and motors market is majorly dominated by automotive segment due to increasing demand of motor vehicles in emerging nations such as India, China, Brazil and Russia among others. Automotive is also the fastest growing application segment in servo drives and motors market followed healthcare and semiconductor and electronics.
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Automation in industrial processes has resulted in high throughput, less cost, low errors and less man-power requirement. Thus the automation market has grown leaps and bounds in recent times. Servo motors and drives serve the purpose of automation and thus servo motor market has seen a high growth rate. Technological advancements in servo systems have further led to increased end-user interest. The application areas of servo motors are varied and